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Season 3, Episode 10: Tencent
Acquired
We Chat Pay Isn't the Golden Goose That You Would Think It Would Be
Chat pay is actually not very profitable, because instead of a culturally accepted two to three % interchange fee, it's like point six %. That's really just about a sort of additional lock in, an additional sort of loyalty to the platform so that they can make money in other ways. Ten cent has started buying up shares on the open market and now owns 12% of snap. Snap i poed with a very interesting, a governmante structure. By interesting, you mean multiple classes? You know, there's multiple share classes in public us. T companiess is not new. Facebook has it with, you know, supervoting shares that the founders control. I think a
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